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Ignore the analysts at your peril, Jim Cramer warned his Mad Money viewers Monday. Today's victory for the bulls, he said, was largely due to the analysts.

Case in point: Micron Technologies (MU) - Get Micron Technology Inc. Report , the semiconductor maker with a stock that's been tossed around like a football lately. Cramer said Monday's analyst upgrade helped revive this ailing stock with a quick 3.6% gain.

Then there's Apple (AAPL) - Get Apple Inc. Report , a stock Cramer owns for Action Alerts PLUS. On Monday, Apple received a positive analyst note and a price target raise. But while on the surface this sounds like good news, Cramer said Apple needs expectations to be low if shares have any hopes of rising after the company reports next week.

Still other stocks on the move Monday as a result of analysts were Amazon (AMZN) - Get Inc. Report and Alphabet (GOOGL) - Get Alphabet Inc. Report . The Amazon analyst felt the company was in the "sweet spot" for revenue acceleration, while Alphabet's analyst felt business would be softer than expected. Cramer said the latter is exactly what the bulls should be looking for as the weakness give Google the perfect opportunity to surprise to the upside. 

Cramer and the AAP team are looking at everything from earnings and tariffs to the Federal Reserve. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts Plus.

Executive Decision: Home Depot

For his "Executive Decision" segment, Cramer sat down with Carol Tome, retiring CFO of Home Depot (HD) - Get Home Depot Inc. (The) Report , after a remarkable 24-year career at the company.

Tome said Home Depot is now 40 years old and she's been CFO for nearly half of that. She said one of the keys to her success has been that she's a business person first and a finance person second. She said it was important for her to understand Home Depot's business, which is why she donned an orange apron and worked in the stores at the beginning of her career. That's why today she's willing to invest in things like better signage for their stores, because she understands how important the customer experience is.

When asked about our economy, Tome said Home Depot learned a long time ago that if home prices are rising, then consumers will invest in and remodel their homes. Even millennials, she noted, are beginning to buy their first homes and see the value they provide.

Home Depot has also invested in technology over the years. Tome explained that mobile applications are especially useful for contractors in the field and they're working hard to provide a great customized experience for them.

Finally, when asked about her legacy, Tome said she's most proud of the people, and especially of the women, that Home Depot has added to its team. 

On Real Money, Cramer keys in on the companies and CEOs he knows best. Get more of his insights with a free trial subscription to Real Money.

Off the Charts: WATCH

In the "Off The Charts" segment, Cramer checked in with colleague Bob Lang for a read on three components of WATCH, Cramer's acronym for Walmart (WMT) - Get Walmart Inc. Report , Amazon (AMZN) - Get Inc. Report , Target (TGT) - Get Target Corporation Report , Costco (COST) - Get Costco Wholesale Corporation Report and Home Depot (HD) - Get Home Depot Inc. (The) Report . In this segment, Lang looked specifically at Walmart, Target and Costco.

Starting with Walmart, Lang noted the stock's rally has been made on strong volume and its relative strength indicator (RSI) has been embedded in overbought territory for the past six weeks. Lang was bullish on the stock.

Next, Lang noted the cup-and-handle pattern with Target, a bullish formation. He also called attention to the MACD momentum indicator and the on-balance volume indicator, both of which confirmed a breakout to the upside was likely.

Finally, Lang felt that Costco's strong rally was also likely to continue and he would be a buyer on any pullback. 

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TheStreet Recommends

Know Your IPO

In his "Know Your IPO" segment, Cramer dove into the recent debut of Grocery Outlet (GO) - Get Grocery Outlet Holding Corp. Report , the off-price grocery chain with 323 stores and shares that have risen to $23.25 from their IPO price of just $22.

Cramer said Grocery Outlet has a unique business model, buying name brand items through flexible sourcing channels that allow it to sell items for 40% to 70% off traditional prices. The company's franchise model allows individual owners to personalize stores to meet the needs of their communities.

But while Grocery Outlet has a unique model, strong same-store sales growth and earnings growth in the mid-teens, Cramer said he cannot recommend it at current levels for one reason: valuation.

At its current price, shares trade for 66 times earnings and 50 times next year's earnings. That's far greater than Kroger (KR) - Get Kroger Company (The) Report , which admittedly doesn't have the growth of Grocery Outlet, but trades at just nine times earnings. It's also higher than Costco (COST) - Get Costco Wholesale Corporation Report , at 33 times earnings.

Cramer said he might be willing to pay up to 40 times earnings for Grocery Outlet, but shares are off-limits for the time being. 

Why Oil Hasn't Recovered

In his "No-Huddle Offense" segment, Cramer talked about why oil prices didn't budge when Iran seized a British oil tanker.

Cramer said there are crosscurrents in the oil patch right now. First, no one seems to be taking Iran's aggressions seriously. Second, traders don't see oil demand rising until either the trade war with China ends or oil rebounds. Also, the oil companies themselves don't have any credibility since they've been wrong about the direction of oil for so long.

But at the end of the day, Cramer said oil prices come down to supply and demand. The U.S. is simply producing so much oil, a disruption in the Persian Gulf just doesn't matter as much as it used to. 

Lightning Round

In the Lightning Round, Cramer was bullish on Guardant Health (GH) - Get Guardant Health Inc. Report , Danaher (DHR) - Get Danaher Corporation Report , Berkshire Hathaway (BRK.B) - Get Berkshire Hathaway Inc. Report , Seattle Genetics (SGEN) - Get Seagen Inc. Report and GW Pharmaceuticals (GWPH) - Get GW Pharmaceuticals Plc Report .

Cramer was bearish on Range Resources (RRC) - Get Range Resources Corporation Report and Zynerba Pharmaceuticals (ZYNE) - Get Zynerba Pharmaceuticals Inc. Report .

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At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL, AMZN, GOOGL, HD.